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Russia’s war in Ukraine to cost global economy $2.8 trillion, OECD says

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Ukrainian soldiers and police officer take pictures at a collection point for destroyed Russian military vehicles after it was taken over from Russian forces near Izyum, Kharkiv region, on September 25, 2022, amid the Russian invasion of Ukraine (Photo: AFP)Premium
Ukrainian soldiers and police officer take pictures at a collection point for destroyed Russian military vehicles after it was taken over from Russian forces near Izyum, Kharkiv region, on September 25, 2022, amid the Russian invasion of Ukraine (Photo: AFP)

Research body says loss of output could be larger if Europe faces energy shortages during a severe winter

Russia’s invasion of Ukraine will cost the global economy $2.8 trillion in lost output by the end of next year—and even more if a severe winter leads to energy rationing in Europe—the Organization for Economic Cooperation and Development said Monday.

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